Mortgage Brain to launch iPad sourcing app
Could be useful in a very straight forward case (how many of them do you get) if client needs to move quickly though quite a lot of lenders don’t work on iPad at present.
Otherwise, the sourcing system is really only a starting point before talking to the lenders and looking into lenders who you know should fit but haven’t come up. I can see there being a few disappointed clients from that approach.
Des Platt
15 Oct 2012 | 15:05
Ask the Experts: Why shouldn’t I re-broke a protection plan?
I wonder what the FSA would say if a GIO was exercised which did not cover the risk period. My understanding is that GIO’s are inflexible when it comes to extending the term.
Take a mortgage protection policy; due to the restrictions in interest only mortgages more clients will be extending their mortgage terms in order to have an affordable monthly payment. There is nothing wrong in re-broking protection policies in order to ensure adequate cover, even if the definitions have changed slightly and the clients are made aware of this.
Pointed
15 Oct 2012 | 17:27
Nationwide was right to stop interest-only
I think there’s another reason for FS regulation – money! The regulated society we now live in is making a lot of money for some people – I’m sure this commentator must complain about the amount of Red Tape in his job – just like EVERYONE else at the moment, regardless of their industry. I’m not denying there are other reasons, of course.
Taking a risk with interest only mortgages has worked very well for some people. I think Kent Reliance are quite keen on the BTL market? Oh yeah, that’s ‘commercial lending’ so it doesn’t count! In reality, what is the difference, apart from lack of FSA regs?
Mike Snorkins
09 Oct 2012 | 11:06
Magistrate escapes jail for £360k mortgage fraud
On these same pages we are reading about someone going to prison for mortgage fraud and yet this woman was let off. Talk about double standards. Surely she should have been more severely punished as she was sitting in judgement on others. Perhaps things aren’t as black and white as they seem.
David Clark
17 Oct 2012 | 12:30
High Court ruling may increase interest-only mis-sales compensation
Appears someone has advised a client to invest in a single asset class – in this case housing – and over-exposed them in the process. How it could be good advice to recommend one mortgaged property as a suitable repayment vehicle for another residential mortgage beggars belief.
No doubt fed by the greed of the advisor for the commission on both deals. If this were a bank adviser, comments on this site would be full of vitriol and pointing the way to the value of independent advice. As its not, a deathly hush has descended.
Of course, it’s unlikely to be the only example, but serves as a good reminder to all that bad advice is just as likely from independents as it is from bank staff. Both can be influenced by personal gain above customer interest.
Michael5
18 Oct 2012 | 13:49
Thank you for your comments this week.
